Fox Run Management L.L.C. Takes $1.26 Million Position in Starbucks Co. (SBUX)

Fox Run Management L.L.C. bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 21,927 shares of the coffee company’s stock, valued at approximately $1,259,000.

A number of other hedge funds have also made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Starbucks during the 3rd quarter valued at about $111,000. Jacobi Capital Management LLC grew its stake in Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the last quarter. Valley National Advisers Inc. grew its stake in Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares during the last quarter. Horan Capital Advisors LLC. purchased a new stake in Starbucks during the 3rd quarter valued at about $131,000. Finally, Stonehearth Capital Management LLC purchased a new stake in Starbucks during the 4th quarter valued at about $142,000. Hedge funds and other institutional investors own 71.87% of the company’s stock.

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In related news, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the transaction, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The disclosure for this sale can be found here. Insiders sold a total of 247,826 shares of company stock valued at $14,213,139 in the last ninety days. 3.48% of the stock is currently owned by insiders.

Several analysts have weighed in on SBUX shares. OTR Global upgraded Starbucks to a “positive” rating in a research note on Thursday, October 26th. Morgan Stanley boosted their price target on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Vetr downgraded Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price target on the stock. in a research note on Monday, January 8th. Tigress Financial started coverage on Starbucks in a research note on Wednesday, December 27th. They set a “buy” rating on the stock. Finally, Goldman Sachs Group downgraded Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their price target for the company from $73.00 to $68.00 in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.63.

Starbucks Co. (NASDAQ SBUX) opened at $56.48 on Tuesday. The firm has a market capitalization of $79,390.00, a PE ratio of 18.95, a P/E/G ratio of 1.56 and a beta of 0.70. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. Starbucks’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. Starbucks’s payout ratio is 40.27%.

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Starbucks Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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